The relationship between the quantity of inputs and the quantity of outputs is called:
A. an input-output function.
B. a production function.
C. a cost function.
D. a resource function.
B. a production function.
Economics
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Preferences can be described as
A) what a person likes and dislikes. B) the income opportunities of several activities. C) feasible consumption combinations. D) the relative prices of goods and services.
Economics
In the United States in 2013, the Bureau of Economic Analysis began counting spending by firms and individuals on developing entertainment products as investment. This change will
A) add to GDP. B) only change GDP if the development occurs within the borders of the United States. C) take away from GDP. D) not change GDP.
Economics